HONG KONG, May 17 (SMM) – Ternary lithium-ion batteries will continue to be the only batteries that can be used by new-energy vehicles (NEVs) in the next three years, according to Jerry Tsui, managing director at BAIC Group Industrial Investment.
Speaking to delegates at the LME Asia Week conference on Thursday May 17 in Hong Kong, Tsui said that the industry might progress to utilising solid-state batteries, in another five years.
BAIC Group produced over 103,000 units of NEVs in 2017 and expects output of over 150,000 units this year, Tsui said. Increasing energy intensity is an area of interest for the carmaker.
While China has started to scale back its subsidies for NEVs, Tsui believes consumers will continue to drive demand. Smaller subsidies are “not fatal”, he said.
He estimated that consumers can save some 20,000 yuan a year for running a NEV for 20,000 km, compared to fuel-powered cars.
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